City Supervisor wants oil companies to sell off their company-owned gas stations within two years. A San Francisco City Supervisor Tom Ammiano has introduced legislation that could radically alter the city’s gas station and convenience store market. Ammiano proposed that oil refiners be required to sell off their company-owned gas stations within two years. The…
pump prices dropping
EIA survey says gasoline down for the third straight week. U.S. retail gasoline prices fell for a third straight week, dropping 3.6 cents to $3.06 a gallon, according to the Energy Information Administration (EIA). But drivers are still paying more at the pump than they were a year ago. The national average price for regular…
duncan petroleum completes sale
Deal includes 19 Mid-Atlantic stores to an unnamed buyer. Duncan Petroleum Corp. has concluded the successful sale of its retail and commercial business to an established Mid-Atlantic multi-branded wholesaler. Terms of the deal for the Dover, Del.-based chain were not disclosed. The deal, according to company president Bob Duncan, included 19 retail petroleum sites, a…
lykins oil acquires wilson oil co
The company to offer five major fuel brands: BP, Marathon, ExxonMobil, Shell and Clark. Lykins Cos. has purchased London, Ky.-based Paul R. Wilson Oil Co. Inc. Terms of the deal were not disclosed. Founded in 1956 by Paul R. Wilson, the company has a deep tradition in the community. In 1970, Mike Hamm, Wilson’s son-in-law,…
giant foods heavily targeting fuel customers
Supermarket chain plans to aggressively grow gas station count. Giant Food Inc. is building a gas station at one of its stores and looking for opportunities to put up others as it joins a national trend among supermarkets aiming to be a “one-stop shopping experience.”The supermarket began construction on a gas station at its Pasadena,…
mixed results for united refining
Net income jumps 33.9%, sales drop 1.3% in fiscal year 2007. United Refining Co., which operates 371 Kwik Fill, Red Apple and Country Fair convenience stores in New York and Pennsylvania, posted strong net income in fiscal year 2007, but saw sales drop more than 1% over the past 12 months. Net sales for the…
the pantry facing hot gas charges
Disclosure of 45 lawsuits made in regulatory filing. Hot gas has The Pantry in some hot water. The company has been named as a defendant in seven class-action lawsuits that accuse energy companies and gas station operators of selling gas at hot temperatures — a move that reduces fuel’s energy content, the Triangle (N.C.) Business…
Texas ordinance preventing gas thefts
Measure fines clerks for turning on fuel pumps for cash customers before payment. A new city ordinance in Rockport, Texas that fines clerks for turning on the fuel before a customer pays has put the brakes on gas thefts. Now other local jurisdictions are looking at creating similar rules, the Corpus Christi (Texas) Caller Times…
Iowa awards grants for alternative fuels
Kum & Go among the retailers sharing $563,800 for fuel pumps and other equipment supporting E85 and biodiesel. Iowa’s Renewable Fuels Infrastructure Board awarded $563,800 in grants to 21 Iowa fuel retailers to encourage them to install pumps and other equipment to dispense 85% ethanol gas and biodiesel fuel. In addition to biofuels pumps, the…
refining drives chs earnings
Revenues for fiscal year 2007 were $17.2 billion, up 20% over $14.4 billion a year earlier. CHS Inc., the St. Paul, Minn.-based refiner-marketer, reported record net income for fiscal 2007 of $750.3 million. The earnings for the 12 months ending Aug. 31, 2007, compared with net income of $490.3 million for fiscal 2006. Revenues for…